Value in the new Internet economy

If speculation in the coverage is to be believed, Moreover.com, a content syndication company started by Nick Denton, is about to be acquired for approximately the same price as Jason Calcanis’ Weblogs.com.

That doesn’t make much sense to me. It sounds like a challenge to Jeff Jarvis’ notion that the network no one owns is more valuable than the network you own. Weblogs.com owns a few dozen blogs, out of thousands of influential ones and millions in the blogosphere as a whole. What AOL bought, really, was the network linking those blogs together.

My heart is with those who trumpet complete openness and interoperability as the matras of the next-generation Internet economy. Watching what’s happening on the ground, though, my mind isn’t convinced.